Peru seeks to integrate fintech into the digital payment system

The Central Reserve Bank of Peru seeks to expand digital payments this year. To do this, it seeks to integrate fintech companies into the ecosystem

The incorporation of fintech into the Peruvian economy is one of the objectives of the Central Reserve Bank of Peru (BCRP) in 2024.

The participation of fintech companies in the local economy is included in the initiative “Interoperability Strategy for Retail Payments” of the governing body, which has presented a report indicating that with this inclusion “digital payments can become widespread within the Peruvian economy.”

The BCRP is working to integrate the fintech Yape and Plin, two digital wallets that are supervised by the bank. Likewise, it is focused on the “Open Payments” model and the design of its own platform.

The objective is to establish “fair and non-discriminatory conditions that can safeguard the ecosystem from potential risks.”

The legal and technical aspects are a fundamental part of this strategy, since they will allow us to develop our own retail payments platform to integrate fintech and bigtech into the local market.

Currently, fintech platforms operate through the Electronic Clearing House (CCE) and their operations require agreements with an entity already participating within the Chamber itself. This situation generates setbacks that could be resolved by joining the digital payment system under the supervision of the BCRP.


Source: cointelegraph

(Reference image source: Unsplash+, in collaboration with Getty Images)

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